Fastenal (NASDAQ:FAST) Shares Sold by Loudon Investment Management LLC

Loudon Investment Management LLC lessened its holdings in shares of Fastenal (NASDAQ:FAST) by 0.4% in the fourth quarter, HoldingsChannel reports. The fund owned 81,066 shares of the company’s stock after selling 300 shares during the period. Fastenal makes up about 3.3% of Loudon Investment Management LLC’s portfolio, making the stock its 6th largest holding. Loudon Investment Management LLC’s holdings in Fastenal were worth $5,829,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. boosted its position in Fastenal by 6.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 4,653 shares of the company’s stock worth $335,000 after acquiring an additional 263 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of Fastenal in the 4th quarter worth $246,000. Royal London Asset Management Ltd. raised its stake in shares of Fastenal by 4.8% in the 4th quarter. Royal London Asset Management Ltd. now owns 384,029 shares of the company’s stock worth $27,616,000 after buying an additional 17,672 shares in the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Fastenal by 41.5% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 37,315 shares of the company’s stock worth $2,597,000 after buying an additional 10,937 shares in the last quarter. Finally, Generali Asset Management SPA SGR bought a new stake in shares of Fastenal in the 4th quarter worth $5,757,000. Institutional investors and hedge funds own 81.38% of the company’s stock.

Fastenal Stock Down 1.2 %

NASDAQ:FAST opened at $75.51 on Friday. The firm has a market capitalization of $43.30 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 3.58 and a beta of 1.05. Fastenal has a 1-year low of $61.36 and a 1-year high of $84.88. The company has a current ratio of 4.67, a quick ratio of 2.28 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average price is $75.02 and its 200 day moving average price is $75.47.

Fastenal (NASDAQ:FAST) last posted its quarterly earnings results on Friday, January 17th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.84 billion. Fastenal had a net margin of 15.25% and a return on equity of 32.55%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. On average, sell-side analysts forecast that Fastenal will post 2.15 earnings per share for the current fiscal year.

Fastenal Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, January 31st were paid a $0.43 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.72 dividend on an annualized basis and a yield of 2.28%. This is an increase from Fastenal’s previous quarterly dividend of $0.39. Fastenal’s payout ratio is 85.57%.

Analyst Upgrades and Downgrades

FAST has been the topic of a number of research reports. HSBC downgraded Fastenal from a “hold” rating to a “reduce” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, December 11th. Wolfe Research boosted their target price on Fastenal from $74.00 to $76.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Hsbc Global Res lowered Fastenal from a “hold” rating to a “moderate sell” rating in a research report on Wednesday, December 11th. Jefferies Financial Group boosted their target price on Fastenal from $74.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Finally, Stifel Nicolaus cut their target price on Fastenal from $86.00 to $82.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $76.91.

Fastenal Profile

Fastenal Company, together with its subsidiaries, engages in the wholesale distribution of industrial and construction supplies in the United States, Canada, Mexico, North America, and internationally. It offers fasteners, and related industrial and construction supplies under the Fastenal name. The company’s fastener products include threaded fasteners, bolts, nuts, screws, studs, and related washers that are used in manufactured products and construction projects, as well as in the maintenance and repair of machines.